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Books

How capitalism really works

Deirdre Nansen McCloskey sees the spread of liberal ideas as responsible for the world’s increasing riches. So how does China fit the theory?

21 May 2016

9:00 AM

21 May 2016

9:00 AM

Bourgeois Equality: How Ideas, Not Capital or Institutions, Enriched the World Deirdre Nansen McCloskey

Chicago University Press, pp.768, £31.50, ISBN: 9780226333991

Deirdre McCloskey has been at work for many years on a huge project: to explain why the world has become so much richer in the past two centuries, and at an accelerating rate since 1945. This is the third and final volume in the series. In it she argues that ‘our riches were not made by piling brick on brick, bank balance on bank balance, but by piling idea on idea’.

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